Sometimes simpler is not better. Sometimes cheaper is more expensive in the long run. Those thoughts occurred to me after meeting with a new client regarding her financial problems. The client, a 61-year-old single women earning $14 per hour, was struggling to pay $9,000 of credit cards. Her income had declined after a change in
The 8th Circuit Bankruptcy Appellate Panel has allowed a debtor who was ineligible to receive a discharge in a Chapter 13 case to strip wholly unsecured liens filed against a debtor’s homestead. In the case of In re Fisette, No. 11-6012 (8th Cir. BAP Aug. 29, 2011), the debtor was ineligible to receive a
One of the most significant powers of a Chapter 13 bankruptcy is the power to strip off a wholly unsecured second mortgage lien. If your home is worth less than the amount of the first mortgage balance, you may be able to cancel the second mortgage lien in Chapter 13. With the dramatic decline of